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Re: ricks_dancer post# 3242

Sunday, 12/09/2007 4:39:58 PM

Sunday, December 09, 2007 4:39:58 PM

Post# of 6597
They havent released a statement specifically about successful debt restructuring, but it was basically suggested in their last press statement.

"The strength in the market for Adult Themed Night Clubs in Las Vegas bodes extremely favorably for the company and their recently announced debt restructuring. The company will now be able to restructure the existing notes held as mortgages on the property located at 4636 Wynn Road in Las Vegas Nevada into one note at extremely favorable rates. Additionally, the refinancing will dramatically lower the interest payments thus freeing up a significant amount of working capital for the company. The company hopes to free up $2,000,000.00 to $4,000,000.00 for operations marketing and expansion. "